News: Cellent’s 800 consultants will join Wipro.
Wipro has acquired German IT consulting and software service provider Cellent from Landesbank Baden-Wuerttemberg (LBBW) for €73.5m.
Cellent has been operating in the Germany, Austria, and Switzerland (DACH) region for the past 14 years, with the firm reporting $92m in revenue last year.
With the acquisition, Wipro expects to speed up its growth in Europe, especially across the DACH region.
The deal is also likely to provide Wipro with significant scale and prime customer relationships in Wipro’s key industry sectors, which includes manufacturing and automotive sectors across DACH.
Europe plays an important part in Wipro’s revenue, as the region contributed to around a quarter of Wipro’s IT services revenue of $1.8bn in the quarter ended 30th September.
The acquisition will not affect Cellent’s 800 consultants who are working for the company, as now they will become part of Wipro.
Wipro CEO manufacturing NS Bala said: "We welcome cellent to the Wipro family. Cultural synergies and locational proximity are key to building successful customer relationships.
"Cellent is a well-established player with marquee customers, a well-known brand and has strong local talent.
"Cellent will significantly boost our footprint in the DACH region, especially in the Manufacturing and Automotive domains."
The latest acquisition is the second one for Wipro in less than six months, as the company previously acquired Denmark-based Designit for $95m in July, reported Economic Times.